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South Korea plans $1.1 billion Busan ship repair complex by 2030

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  • South Korea plans a Busan New Port complex for large-vessel ship repairs.
  • 92.5% of South Korean-flagged vessels above 30,000 tons were repaired overseas from 2022 to 2024.
  • The ministry plans a business study this year and groundbreaking in 2030.
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